5 Minutes for Business - U.S. Interest Rates about to Rise: What Does It Mean for Canada?

Every other week, we release 5 Minutes for Business, a publication written by Hendrik Brakel, our Senior Director of Economic, Financial and Tax Policy. In these publications, Hendrik briefly describes current issues that affect the Canadian economy and provides insight on what it will mean for Canadians today and the future. In this week’s edition, he looks at the impact a rising U.S. interest rate could have on the Canadian economy.

A stronger U.S. economy is good for the global economy and it’s definitely good for Canadian business. But after seven long years with interest rates at zero, is the U.S. Federal Reserve really ready to raise rates in December? Will the U.S. economy be taken by surprise?

More directly, what does it mean for the Canadian economy? Will the move help our exports or simply put pressure on our dollar?

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